Mine operation is governed by both federal and state law. We will be required
to comply with all regulations, rules and directives of governmental authorities
and agencies applicable to the exploration of minerals in the United States
generally. Federal laws, such as those governing the purchase, transport or
storage of explosives, and those governing mine safety and health, also apply.
The Company plans to obtain a Lemhi County Conditional Use Permit, an Idaho
Department of Lands Surface Reclamation Bond and permitting for the U.S. Forest
Service Access Road.
When this mine comes into production we will also be subject to the rules and
regulations of the Mine Safety and Health Administration, a Division of the
United States Department of Labor.
CLAVO RICO (Honduras, Central America)
The mining operations in Honduras are governed by the national entities Honduran
Institute of Geology and Mines (INHGEOMIN) and Ministry of Natural Resources
and Environment (SERNA). The Clavo Rico mine has operated under a grandfathered
concession granted many years ago and has now complied with all regulatory requirements
of the above agencies and the recently adopted Honduran Mining laws (The General
Mining Law was approved by Legislative Decree No. 238-2012, dated January 23,
2013), including employee health and safety regulations, Environmental requirements,
water discharge requirements, and potential reclamation requirements. As the
above ministries have only limited operational experience and the new mining
law has only recently been adopted, the interpretation, adoption and enforcement
of many regulations are evolving. Other local ordinances (municipality of El
Corpus) minor and most regulatory efforts are as a result of interaction between
the mine and the local populace, (examples include use of the mine haul road
for local traffic, restricting mine operations to daylight hours for noise considerations,
watering for dust control, etc.) where no regulation or law exists, we have
attempted to duplicate best practices as required in other business climates.
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